BAKE - history repeating?BAKE p.a. has been oscillating around $0.19 for the last 3 years.
Attempted a break out of the downtrend Dec 24 but was unsuccessful.
In Dec 23 we saw a rejection from the $0.19 price point, down to $0.15 before seeing a significant move to the upside @ 500%
If current p.a. rhymes with Dec 23 a long entry @ $0.165 could be favourable. Depending on how patient you are, you could probably ride this into Q4 assuming we achieve a break out of the downtrend 🚀
BAKEUSD trade ideas
BAKE - time to bounce up is running out!BAKE following perfectly XRP pattern - broke major diagonal resistance line, created local horizontal support range just to fake break down from it. In order to keep following XRP pattern BAKE needs to bounce up asap and flip local range back into support, thus opening path for push to new ATH.
BAKE — Will Soon AwakeAfter confirming support twice at the blue area that also coincides with the golden ratio retracement, BAKE is getting ready for an epic breakout which will be the beginning of the third wave.
There is very little space left under the trendline and it can happen any time now:
RSI is stable and moving sideways around 50.
BAKE/BTC holds support very well. This is one of the strongest coins on the market right now.
The chart shows three sets of Fibonacci targets: retracement levels of the bear market and extension levels of waves 1 and 2. Best places to sell are where the Fibonacci levels coincide with resistances and with each other. The area around the previous ATH coincides with 1.618 and 2.36 so it's going to be a particularly strong resistance.
Maximum upside potential is around 3000%.